No winner in Powerball lottery, jackpot now estimated $700 million

(Matt Rourke/AP Photo)

(WRIC/ABC) — The largest jackpot in U.S. history — now an estimated $700 million — will be up for grabs in Saturday night’s drawing after no one won Wednesday’s drawing.

The payout would have had an estimated cash value of about $428.4 million before taxes, according to the Powerball website. The final take-home amount would depend on the winner’s tax rate and the state and local taxes in the state where the winner lives, Tracey Cohen, the interim executive director of the D.C. Lottery, told ABC News.

The largest lottery jackpot to date was won in three states in March 2012, when the Mega Millions drawing reached a whopping $656 million.

In the past 13 years, 16 Powerball jackpot winners have bought their tickets in Pennsylvania, more than any other state. Powerball is played by 44 U.S. states as well as the District of Columbia, the U.S. Virgin Islands and Puerto Rico.

Officials advise that any winners sign the lottery ticket as soon as they get the chance. Two forms of identification, along with the signed ticket, are required to claim the prize, Cohen said.

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